The IRS Collection Process

What will the IRS do once they say you owe them some tax, even though you didn't file?

Let's say you didn't file and the IRS filed substitute returns for you. What then?

The IRS will then start what they call the "collection process." This is a process of many steps by which they intend to collect the amount they say you owe from the substitute returns they filed for you.

The process starts with a combination of three things. The sequence of these steps vary from situation to situation. The IRS can:

• File a Federal Tax Lien against any property that you own
• Garnish your wages if you are a wage earner. 
• Take your compensation (by Levy) from a client or company who owes you money if you are self-employed, or
• Levy your bank account

You may hear from a Revenue Officer who is an IRS employee assigned to contact you and collect the tax.

The IRS also shares the information they used to set up the taxes on you with the state taxing authorities. So if you live in a state with a state income tax, expect to hear from the state also who will have filed substitute returns for you based on the information they received from the IRS.

Make a move. Do something to avoid these actions by the IRS. Call me, Gerald Yarborough, at (800) 270-8616 and we can begin a dialog that will allow us to create a plan to solve your tax problem.

Visit our website for more information about the IRS Collection Process.